Tata Consultancy Services (TCS) shares today fell nearly 2 per cent to trade at 2443.90. Traders speculated that the company may announce some restructuring, which may impact earnings outlook.
According to analysts, TCS will provide a business update later in the day.
TCS does a sell-side meeting before every quarter end. The management’s commentary on FY15 dollar revenue growth will be key, said analysts.
Stock has 34 ‘buy’ ratings, 16 ‘hold’ and 2 ‘sell’ ratings. The shares are at lower Bollinger band and 14-day RSI at 32.